Trader nets over $1M on Papertrade’s launch, then loses $450K
Photo: Crypto Briefing
A Hyperliquid veteran ran up seven-figure profits on the new 1,000x exchange before 30 short positions were liquidated Papertrade’s first weekend of live trading produced a perfect leverage parable. One wallet booked more than $1 million in profits, then watched $450,000 disappear when a batch of shorts got liquidated on Saturday night. The exchange offers up to 1,000x leverage on synthetic Bitcoin and ETH contracts. At that setting, a 0.1% move against you is enough to end the position.
Source: Crypto Briefing
